Argentinian industrial production in May dropped 1.2 percent, year-on-year, according to data released by the nation’s statistics agency, Indec. Industrial production in the local automotive segment grew 7.2 percent in May, year-on-year.
As for the local metal mechanic segment, industrial production declined 4.6 percent in May, also on a year-on-year basis.
According to Indec’s qualitative survey, which measured the expectancies of the country’s industrial companies for the June-August period, on a year-on-year basis, 50.4 percent expect a stable pace for domestic demand. On the other hand, another 14.3 percent forecast an increase in demand, while 35.3 percent expect a decline.
Out of the interviewed exporting companies, 52 percent expect a stable June-August period for exports, also stable on a year-on-year analysis. Additionally, 33.5 percent foresee an increase, while 14.5 percent anticipate a decline in exports in the same period.